We recently published our initial report on the security incident that occurred on 29th October, which sets out the findings of our investigation to date, and the measures we have already implemented to rectify.

Our first priority remains protecting our users. Binance will absorb the financial impact of the stolen funds, not our users. We have set aside more than 100% of the funds required to cover the loss, and as of 3 November, 98% of the impacted token assets have been replenished and are verifiable on our Proof of Reserves page. 

We have taken immediate action to contain the incident and strengthen the systems involved. The identified entry points used in the attack have been closed, systems touched in the attack path have been rebuilt or replaced, and we have implemented tighter device controls, enhanced wallet-service risk controls and expanded AI anomaly detection. Some technical details will remain confidential to prevent malicious actors from using them to plan future attacks. We are engaging independent security firms for further review. 

We are sharing this interim report because security improves when the industry learns together, and we will continue to proactively share information as we have it.

For more information on this https://x.com/binance/status/2117626126214504729?a=77T2CN3VXKU_HgvTwSw&s=46